Section 7-1-240. Powers and restrictions applicable when acting as bank and trust company

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Any financial institution authorized by law to act as both a bank and a trust company shall enjoy and be subject to the powers and restrictions of a bank of its type in regard to its banking activities and in like manner shall enjoy and be subject to the powers and restrictions of a trust company in regard to its trust activity. With respect to general corporate matters not identified with either banking or trust functions, it shall have the privileges and restrictions of a bank of its type.

Code 1933, § 41A-1101, enacted by Ga. L. 1974, p. 705, § 1.

                    
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